Suppose you live in a society with perfect income mobility. This implies that:
A) every individual has a higher probability of ending up in the highest income quintile than in the lowest income quintile.
B) the probability of ending up in the highest income quintile is 20 percent.
C) there is no income inequality.
D) individuals with parents from the lowest income quintile always move to a higher income quintile.
Correct Answer:
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